Double Eleven in 2024 is here! The stock prices of Chinese e-commerce giants Alibaba, Pinduoduo, and JD.com have experienced varying degrees of decline. As of the close on November 8th Eastern Time, Chinese e-commerce stock Alibaba closed down 5.94% at $94.19 per share. Pinduoduo fell 6.4% to $117.81 per share. JD.com fell 6.99% to $38.35 per share. In the past month (October 9th to November 8th), Alibaba's stock price in the US stock market fell 14.12%, Pinduoduo fell 18.67%, and JD.com fell 11.92%. During the annual e-commerce shopping frenzy season like Singles' Day, the stock prices of e-commerce giants have shown a "discount", which has attracted market attention.
According to Wind data, the historical high of Alibaba's stock price occurred on October 27, 2020, at $319.32 per share. The historical high of Pinduoduo's stock price occurred on February 16, 2021, at $212.5965 per share. The historical high of JD's stock price appeared on February 17, 2021, at 108.29 US dollars per share. As of November 10th this year, the stock prices of Alibaba, Pinduoduo, and JD.com have fallen by 70.50%, 44.59%, and 64.59% respectively from their historical highs. At present, the total market values of Alibaba, Pinduoduo, and JD.com are 225.362 billion US dollars, 163.611 billion US dollars, and 56.144 billion US dollars, respectively.
In recent years, the scale of the Double Eleven shopping festival has been continuously expanding, and consumers' purchasing power is gradually approaching saturation. Although major platforms have introduced more diversified promotional methods, the overall growth rate of the market has begun to slow down. According to the analysis of the insiders, in addition to the traditional e-commerce giants, emerging e-commerce platforms such as Tiktok e-commerce and Kwai e-commerce are also rising rapidly to seize market share. These new entrants pose significant challenges to traditional e-commerce platforms through innovative marketing methods and flexible business models. Market saturation, regulatory pressure, rising costs, and the emergence of competitors have all had a negative impact on the stock prices of e-commerce platforms
It is worth noting that American e-commerce giant Amazon's stock price hit a historic high on November 7th this year, reaching $212.25 per share. In the past two years, Amazon's stock price has risen by 131.36%. The latest total market value is 2189.015 billion US dollars. Equivalent to nearly 5 times the total market value of Alibaba, Pinduoduo, and JD.com combined.
It is understood that since the beginning of this year, Chinese consumption has gradually recovered. According to data from the National Bureau of Statistics, the online retail sales in China reached 10.9 trillion yuan in the first three quarters, an increase of 8.6%. The online retail sales of physical goods reached 9.1 trillion yuan, an increase of 7.9%. The implementation of the action to enhance digital consumption has shown remarkable results, and the growth rate of online service consumption is relatively fast, with trade in becoming a new growth point. According to business big data monitoring, digital products such as artificial intelligence learning machines and mobile phones grew by 127.9% and 15.4% respectively, while online travel and online catering drove a 19.2% increase in online service consumption. Industry insiders told reporters, "Although the stock prices of Chinese e-commerce giants have performed poorly in the short term, in the long run, their core competitiveness in the e-commerce field still exists. Compared to American e-commerce stocks, Chinese e-commerce stocks still have great growth potential in the future